I think it's safe to say that it's declined based on math mostly. The problem with boxing today is that it's much less popular in American culture than it was in the past. So by default, the quality and competition will suffer. The more participants boxing has, the higher the likelihood that quality boxers will be produced out of that. The lower the participation, the lower the chance. And that's what we're seeing now.
This is not always true though, but a lot of times it is, and I think it's the case with boxing.
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